Maximum Senior Funded Debt to EBITDA Ratio Clause Samples
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Maximum Senior Funded Debt to EBITDA Ratio. Rand shall have on a consolidated basis, at the end of each Fiscal Quarter ending on the dates set forth below, a Senior Funded Debt to EBITDA Ratio as of the last day of such Fiscal Quarter and for the 12 month period then ended of less than the following: March 31, 2015 4.25: 1.00 June 30, 2015 4.50: 1.00 September 30, 2015 4.00: 1.00 December 31, 2015 3.50: 1.00 March 31, 2016 3.50: 1.00 June 30, 2016 3.75: 1.00 September 30, 2016 3.50: 1.00 December 31, 2016 3.50: 1.00 March 31, 2017 3.25: 1.00 June 30, 2017 3.25: 1.00 September 30, 2017 3.25: 1.00 December 31, 2017 3.25: 1.00 March 31, 2018 3.25: 1.00 June 30, 2018 and thereafter 3.00: 1.00
Maximum Senior Funded Debt to EBITDA Ratio. As at the last day of each fiscal quarter, commencing with the fiscal quarter ending September 30, 1999, the Borrower's Senior Funded Debt to EBITDA Ratio shall not exceed 2.50:1.00, computed on a rolling four-quarter basis, based on information contained in the Borrower's current financial statements and its financial statements for the preceding three quarters."
m. Section 5.18(g) of the Credit Agreement is hereby deleted, and in lieu thereof, there is substituted the following:
Maximum Senior Funded Debt to EBITDA Ratio. The Borrower shall not permit the Maximum Senior Funded Debt to EBITDA Ratio to exceed 4.0:1.0 as determined at the end of each fiscal quarter, commencing December 31, 1998, calculated for the four quarters then ended.
Maximum Senior Funded Debt to EBITDA Ratio. Clause (b) of Annex G to the Credit Agreement is amended and restated in its entirety as set forth below: “
Maximum Senior Funded Debt to EBITDA Ratio. Rand shall have on a consolidated basis, at the end of each Fiscal Year set forth below, a Senior Funded Debt to EBITDA Ratio as of the last day of such Fiscal Year and for the 12-month period then ended of less than the following: ,(b) adding the following sentence at the end of paragraph (d) thereof: For purposes of determining compliance with this paragraph (d), the calculation of Capital Expenditures shall exclude the costs of (i) the purchase and installation of the Michipicoten Engines and (ii) all other capital equipment purchased with the proceeds of the Additional Cdn. Term Loan (as defined in the Third Amendment) as set forth on Annex A to the Third Amendment. and (c) deleting paragraph (e) thereof in its entirety and replacing it with the following:
Maximum Senior Funded Debt to EBITDA Ratio. Maintain at all times a maximum Senior Funded Debt to EBITDA Ratio of 3.0 to 1.0, reported on a revised rolling four quarter basis commencing with the quarter ending March 31, 2010. The compliance of such covenant will be tested on March 31, 2010, June 30, 2010 and September 30, 2010 on a revised EBITDA basis, with an officer salary cap of $260,000 and all distributions limited to 40% of Net Income for all quarters calculated in 2009. Commencing December 31, 2010, such covenant will be tested on a rolling four quarter basis according to GAAP.
Maximum Senior Funded Debt to EBITDA Ratio. Rand shall have on a consolidated basis, at the end of each Fiscal Year set forth below, a Senior Funded Debt to EBITDA Ratio as of the last day of such Fiscal Year and for the 12-month period then ended of less than the following:
Maximum Senior Funded Debt to EBITDA Ratio. The Borrowers, on a consolidated basis, shall maintain at all times, as measured at the end of each fiscal quarter, commencing June 30, 1998 for the twelve month period then ended (a rolling twelve month calculation measured as of the end of each successive quarter), a ratio of Senior Funded Debt to EBITDA, of not more than 4.0 to 1.0, provided, however, that this ratio shall be reduced to not more than 3.0 to 1.0 commencing on March 31, 1999 and shall be reduced to not more than 2.5 to 1.0 commencing on March 31, 2000.
Maximum Senior Funded Debt to EBITDA Ratio. The ratio of Borrower'